ChainCatcher report, according to BBX data, Bitcoin fell to a yearly low of $61,300 yesterday, pressuring the cryptocurrency-related stock sector, while key signals emerged at both institutional and legislative levels. Key developments include: Michael Saylor, founder of Strategy, Inc. (NASDAQ: $MSTR), publicly stated on June 4 that Bitcoin’s current decline is not due to deteriorating fundamentals, but rather a "temporary rotation" of capital from Bitcoin toward AI stocks, the SpaceX IPO, and other emerging assets—"Bitcoin isn’t broken, it’s just not the current momentum trade." Saylor reiterated his stance of continued accumulation. Previously, between May 11 and 17, Strategy spent approximately $2.01 billion (average price of $80,985) to acquire 24,869 BTC. As of the latest disclosure, its total holdings stand at 843,738 BTC, with a total cost of approximately $63.87 billion (average price of $75,700). With Bitcoin now trading below this cost basis by $12,300, all of the company’s holdings are currently underwater; however, management has not signaled any intention to reduce its position. According to a CoinDesk report on June 4, JPMorgan Chase & Co. (NYSE: $JPM) warned in its latest research that the legislative window for full Senate vote on the CLARITY Act is "rapidly closing." Disagreements over wording in the stablecoin yield provisions have become the most critical unresolved obstacle—the banking industry insists on retaining restrictions on "passive yield," while the crypto industry advocates for "active incentive space." If no compromise is reached this month, the Senate’s timeline to achieve a 60-vote majority before July 4 will be effectively lost. The report also noted that the capital inflow into SpaceX IPO and AI stocks is further suppressing institutional appetite for BTC in the short term.
MSTR Founder Attributes BTC Drop to AI Capital Rotation; JPMorgan Warns CLARITY Act Window Closing
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Summary
MSTR founder Michael Saylor said the BTC price decline is due to capital shifting toward AI stocks and altcoins to watch, not Bitcoin fundamentals. JPMorgan warned that the window for the CLARITY Act is closing, with disputes over stablecoin yields risking Senate delays before July 4. Saylor reaffirmed his BTC accumulation plans, though current holdings remain underwater.
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